(Bloomberg) — U.S. equity futures slipped Monday and Asian stocks were steady as crude oil jumped and investors monitored ongoing diplomatic efforts to bring an end to Russia’s almost month-old war in Ukraine.
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Shares made modest gains in Australia and wavered in South Korea, while S&P 500 and Nasdaq 100 contracts retreated. Those moves signaled a pause in global equities after their best weekly performance in about 16 months.
A dollar gauge edged up and the yen hovered near a six-year low. Australia’s currency was subdued after the nation banned alumina exports to Russia.
Russia is pressing on with its invasion of Ukraine, which has stoked inflation by pushing up the price of key commodities such as oil and wheat. At the same time, however, Turkey said Moscow and Kyiv are moving closer in talks for a cease-fire.
West Texas Intermediate oil rose to about $107…
